LegalLaw247.com, February 09, 2021 ) The global drug screening market is projected to reach USD 10.0 billion by 2025, from USD 4.5 billion in 2020, at a CAGR of 17.3%. Growth in this market is attributed to the rising drug & alcohol consumption, the enforcement of stringent laws mandating drug and alcohol testing, government funding in major markets, and regulatory approvals and product and service launches.
COVID-19 impact on the drug screening market :
COVID-19 has resulted in significant disruptions to businesses and economic activities globally and is expected to have a short-term negative impact on the drug screening market due to limited or non-availability of medical facilities/treatment centers, harm reduction service providers, and the fear of infection transmission. To reduce the strain on the healthcare system and decrease disease transmission, various governments worldwide provided guidelines to postpone or delay non-essential medical and surgical procedures.
Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=162987773
Based on product, the drug screening market is segmented into analytical instruments, rapid testing devices, and consumables. Rapid testing devices market is further subsegmented into urine testing devices and oral fluid testing devices. The urine testing devices segment is expected to account for the largest market share in 2019. However, the oral fluid testing devices segment is projected to register highest CAGR during the forecast period. The high growth in this segment is attributed to the benefits it offers such as shorter detection window, non-invasive nature, and low risk of sample tampering.
The global drug screening market by sample type is segmented into urine, breath, oral fluid, hair, and other samples. The urine sample segment is estimated to account for the largest share in 2019; however, the oral fluid samples segment is expected to register the highest growth rate during the forecast period.
Based on end-users, the Drug Testing Market is segmented into workplaces, criminal justice systems & law enforcement, drug treatment centers, pain management centers, schools & colleges, hospitals, individual users, and drug testing laboratories. In 2019, the workplace testing segment is expected to account for the largest share of the market. The growth of this end-user segment can be attributed to the growing safety concerns in the workplace and the increasing number of organizations that have made regular drug screening mandatory.
The drug screening market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2019, North America was the largest regional segment of the overall market, followed by Europe. The dominance of the North American market is attributed to factors such as rising consumption of illicit drugs, availability of government funding to curb drug abuse, and the presence of laws supporting drug screening, and growing burden of accidents due to unsafe levels of alcohol consumption.
Key Market Players
The prominent players operating in this market include LabCorp (US), Quest Diagnostics (US), Alere (US), OraSure (US), Alfa Scientific Designs (US), Thermo Fisher Scientific (US), Drägerwerk (Germany), LifeLoc (US), MPD Inc. (US), Omega Laboratories (US), Premier Biotech (US), Psychemedics (US), Roche (Switzerland), Shimadzu (Japan), and Siemens Healthineers (Germany).
Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=162987773
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
Mr. Aashish Mehra
Drug Screening Market : North America was the largest regional segment of the overall market, followed by Europe
February 9, 2021 Posted By: admin
Subscribe to LegalLaw247.Com Newsletter